The Point is being developed by Minute Spot LLC in partnershipwith Hope Communities Inc., a nonprofit affordable-housingdeveloper. The project calls for 35 rental units, 30 for-sale unitsand 16,0000 sf of commercial space. Rental units will range frommarket rates to as little as $345 per month, for tenants who earn30% of the area's median salary. It's scheduled for completion inspring 2002.

The project at Washington and Welton streets is situated acrossfrom the Regional Transportation's light rail station at WeltonStreet and East 27th Avenue. Mission to the Americas, aChicago-based Christian ministry, is expected to buy about 10,000sf of office space. About 6,800 sf of retail space will beavailable for rent at about $11 per sf.

Financing is expected to come from banks, Mercy Housing LoanFund, tax credit equity, Colorado Department of Housing and DenverHousing and Neighborhood Developments Services. It also is expectedto get assistance from the Office of Economic Development.